Sign in Subscribe
Youth

Bangladesh Commits to Supporting Small and Medium-Sized Enterprises for Sustainable Growth

Strategic Insights

— 2 min read

Bangladesh has set its sights on enhancing the role of small and medium-sized enterprises (SMEs) as drivers of sustainable growth and innovation. On International MSME Day 2025, government officials and experts from various organizations emphasized the importance of aligning SMEs with global standards, fostering entrepreneurship, and providing support in areas such as international trade fairs, standard certifications, and digital export platforms. As Bangladesh seeks to build an innovative, inclusive, and sustainable economy, strengthening the SME sector is seen as crucial for competitiveness and job creation.

Key Takeaways:

  • The government has committed to extending full support to young entrepreneurs aiming to become entrepreneurs in the SME sector, with Special Envoy Lutfey Siddiqi highlighting the importance of developing the SME sector and fostering entrepreneurship.
  • To remain competitive, Bangladeshi entrepreneurs need to align their businesses with global standards, including participation in international trade fairs, obtaining standard certifications, and accessing digital export platforms.
  • International MSME Day 2025 was observed on 27 June with the theme "Enhancing the Role of MSMEs as Drivers of Sustainable Growth and Innovation."
  • The SME sector is crucial for building an innovative, inclusive, and sustainable economy, with SMEs accounting for 90% of all businesses, 60-70% of employment, and around 50% of GDP worldwide.
  • The Bangladesh Investment Development Authority (BIDA) has offered a wide range of services, including trade license, VAT and tax registration, investment registration, and utility applications, to support SME growth through its one-stop service centre.
  • The SME Foundation has directly and indirectly supported over two million entrepreneurs, including 250,000 direct beneficiaries, with 55% of whom being women.
  • The foundation has disbursed over Tk 1,010 crore to nearly 11,000 entrepreneurs under the Credit Whalesaling Programme, with women making up at least 25% of recipients.
  • Distinguished Fellow Debapriya Bhattacharya urged political parties to clearly outline their commitments to SME development in their forthcoming election manifestos, stating that political backing is essential for sustained progress.
  • On a global scale, access to finance remains a major barrier for entrepreneurs, with the UN reporting that 41% of entrepreneurs in least developed countries, 30% in middle-income countries, and 15% in high-income nations face difficulties securing credit.

Statistics:

  • Worldwide, MSMEs account for 90% of all businesses, 60-70% of employment, and around 50% of GDP.
  • By 2030, the global economy will require 600 million new jobs, with MSMEs expected to create seven out of every ten.
  • The SME Foundation has directly and indirectly supported over two million entrepreneurs, including 250,000 direct beneficiaries.
  • Under the Credit Whalesaling Programme, the foundation has disbursed over Tk 1,010 crore to nearly 11,000 entrepreneurs, with women making up at least 25% of recipients.

Sources:

  • "Bangladesh commits to supporting small and medium-sized enterprises for sustainable growth" by The New Nation
  • "International MSME Day 2025: Bangladesh observes with theme 'Enhancing the role of MSMEs as drivers of sustainable growth and innovation'" by The New Nation
  • "UN report: 600 million new jobs needed by 2030, MSMEs to create 7 out of 10" by The New Nation
  • "Bangladesh SME Foundation supports over 2 million entrepreneurs: Lutfey Siddiqi" by The New Nation

Read more